Two-Story
New
For Sale
$565,000
1111 / 1113 JEWEL Avenue, Lakeland, FL 33805
Residential Income, LAKELAND, FL
Property Size3,778 SF
Lot Size0.19 Acres
Price / SF$149.55
Days on Market3
Property Features for 1111 / 1113 JEWEL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RB-1
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 6, Bathroom 1, Bathroom 6, Bedroom 3, Bathroom 5, Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5
Interior features
Ceiling Fans(s), Ninguno
Exterior features
Private Entrance, Sidewalk
Subdivision
WESWEGO SUB
Directions
From I-4, take Exit 33 toward Lakeland/US-98 South. Continue south on US-98, then turn east onto Jewel Avenue. Property will be on the right at 1111 Jewel Ave, Lakeland, FL.
Standard status
Active
APN
23-28-11-033000-003180
Size
3,778 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WESWEGO SUB PB 8 PG 11 BLK 3 LOT 18
Tax Annual Amount
367
Legal Description
WESWEGO SUB PB 8 PG 11 BLK 3 LOT 18
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Building materials
Block, HardiPlank Type, Stucco
Roof type
Shingle
Listing Agency:
HARPER REALTY FL, LLC
(863) 687-8020
Listed By:
Greg McSwain · License #3242009
(863) 797-5121
Added: Aug 25
Changed: Aug 27
Last Checked: Aug 27 at 5:06PM
MLS# L4964552
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story duplex is under construction with 3778 square feet of residential space on a 0.19-acre lot. The building uses concrete block, HardiPlank Type, and stucco construction materials, with shingle roofing and central air. Each residence has its own private entrance, while the layouts include kitchens, living areas, bedrooms, and bathrooms. Public water and public sewer serve the property, and there is no HOA.
The property is located in Lakeland near shopping, dining, schools, medical facilities, and major commuter routes. Tampa and Orlando are accessible from the area. Zoning is RB-1, and the 2026 construction year identifies the project as a current new-build residential asset.
The property is located in Lakeland near shopping, dining, schools, medical facilities, and major commuter routes. Tampa and Orlando are accessible from the area. Zoning is RB-1, and the 2026 construction year identifies the project as a current new-build residential asset.
Key Highlights
- Two‑story duplex with 3778 square feet of residential space
- 0.19‑acre lot in Lakeland, FL 33805
- RB‑1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,058
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$801,160
$801.2K
Cap Rate 7%
$572,257
$572.3K
Cap Rate 9%
$445,089
$445.1K
Market Conditions
NOI Build-Up for 3,778 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.2K $16.20/SF
− Vacancy
−$4.0K −$1.05/SF
EGI
$57.2K $15.15/SF
− OpEx
−$17.2K −$4.54/SF
NOI
$40.1K $10.60/SF
Area
Lakeland, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$801,160
Cap Rate 7%
$572,257
Cap Rate 9%
$445,089
Alternative Uses
Best Use
Multifamily LT 5
$572.3K
$500.7K – $667.6K
NOI $40,058 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$511.2K
$447.3K – $596.4K
NOI $35,785 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$907.9K
$794.4K – $1.06M
NOI $63,552 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 33805, FL
26,954
Population
11,908
Households
2.3
Avg Household Size
36
Median Age
17%
College-Educated
82%
High-School Grad
26.0 sq mi
ZIP Area
1,037
Density / Sq Mi
$55,565
Median Household Income
$35,077
Median Earnings
$1,179
Median Rent
$173,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Concrete-block construction provides separate private entrances, central air, and public utilities for both residences.
Where is this duplex located?
The property is located at 1111 / 1113 JEWEL Avenue Lakeland, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two‑story duplex with 3778 square feet of residential space; 0.19‑acre lot in Lakeland, FL 33805; RB‑1 zoning
